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inthemoneystock (< 20)

Something Is Terribly Wrong: Markets Spike To All Time Highs...Again



May 02, 2013 – Comments (6) | RELATED TICKERS: SPY , JPM , BAC

The markets surged higher today, erasing the large downside move from yesterday. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) hit a high of $159.81, taking out the previous all time high of $159.72. While the markets continue to hit all time highs, something is terribly wrong.

The financial stocks cannot catch a bid. As the markets hover at all time highs, the financial stocks retreat. Today alone, JPMorgan Chase & Co. (NYSE:JPM) is trading at $47.91,  -0.10 (-0.21%) while markets sit sharply higher. JPMorgan Chase hit its 52 week highs on March 14th, 2013. Since then, the stock is almost down 10%. Other financial stocks like Goldman Sachs Group, Inc. (NYSE:GS) and Bank of America Corp (NYSE:BAC) are the same.

Something seems to be wrong here. The financial stocks are key to leading this move up and they may be  telling of a dark cloud brewing over the markets. Be warned. 

Gareth Soloway

6 Comments – Post Your Own

#1) On May 02, 2013 at 2:21 PM, awallejr (38.34) wrote:

You are looking at the wrong financials.  The big banks will get hurt from Dodd-Frank.  The BDCs won't.  Look at how BX, KKR, ARCC, AINV and PSEC are performing.

I am guessing your short plays are getting hurt. 

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#2) On May 02, 2013 at 3:34 PM, EnigmaDude (55.14) wrote:

I sincerely hope that nobody reading your blogs are foolish enough to take you seriously.

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#3) On May 03, 2013 at 12:29 AM, jiltin (46.08) wrote:

 I have seen this two times 2000 and 2007. If I understand correctly, HedgeFunds superseeds the market maker banks! This is the start of bull market and you will see the spike again and again....Another 15 to 20 months. IMO, you do not understand the market. 


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#4) On May 03, 2013 at 2:06 AM, awallejr (38.34) wrote:

Jiltin the difference between you, EnigmaDude and I and Gareth is we are sincere, he has an agenda.

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#5) On May 03, 2013 at 10:26 AM, jiltin (46.08) wrote:

Got it, Thanks!!!

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#6) On May 07, 2013 at 8:30 AM, MuhammadTariqMug (< 20) wrote:

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